Marginal Utility Theory Predicts That a Rise in the Price

question 7

Multiple Choice

Marginal utility theory predicts that a rise in the price of a banana results in

• A)the demand curve for bananas shifting rightward.
• B)the demand curve for bananas shifting leftward.
• C)a movement upward along the demand curve for bananas.
• D)a movement downward along the demand curve for bananas.
• E)the demand curve for bananas shifting rightward and the supply curve for bananas shifting rightward.

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Definitions:

Decision-making Process

A series of steps taken by individuals or groups to choose the best action among several options.

Tangible Awards

Physical representations or items given as recognition of achievement, service, or excellence.

Growth

Refers to the process of increasing in size, number, value, or strength.

Introspection

The process of examining one's own thoughts and feelings.